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Lottery.com Going Public on The Nasdaq via a SPAC Merger
By Jeff Osienya Nov 24, 2020 IndustryLottery.com a wildly popular online lottery broker and information hub is making its way to the Nasdaq stock exchange via a reverse merger acquisition deal with Trident Acquisition Group, a special purpose acquisition company.Lottery.com an online lottery platform where US players can purchase tickets of popular lotto games such as Powerball and Mega Millions is set to become a publicly-traded company in New York on The Nasdaq Stock Market. The lotto website which is also known for hosting a rich library of historical lottery data will be making its entry into the Nasdaq through a business merger with a special purpose acquisition company (SPAC) by the name Trident Acquisition Corp.
Per the binding letter of intent (LOI), the proposed transaction will require the stockholders of Lottery.com to roll 100% of their equity into the reverse merger without a minimum cash requirement. The two parties in this arrangement plan to have closed the merger arrangement by the first quarter of next year so that the new company can officially be listed on the Nasdaq. With this announcement, Lottery.com has jumped into the bandwagon of going public via a SPAC like several of its counterparts in the gaming industry including Skillz Inc, Rushstreet Interactive, and Genius Sports Group.
Tony DiMatteo, the co-founder and CEO of Lottery.com voiced his enthusiasm in his company’s public listing venture in the following comments;
Quote“Since the inception of Lottery.com, it was our aim to cooperatively transform a legacy industry with innovative technologies and capture significant market share of a large population of smartphone-using potential customers. We have already been successful in our mission, accelerating revenue growth each year, expanding our footprint and making the lottery much more accessible to modern consumers through an easy-to-use and secure mobile application and core technology.
As we look to further capitalize on current trends with more consumers shopping from home and interacting through mobile applications than ever before, we believe the business combination with Trident will provide us ample capital to accelerate our growth and enter our next stage as a public company.”
Marat Rosenberg, the Chairperson of Trident also released a press statement on Thursday after the news became public saying that;
Quote“Lottery.com has developed an innovative platform that is revolutionizing the lottery industry and bringing it into the digital age. The Company has developed a world-class safe and secure mobile lottery platform that provides users the ability to play official lottery games right from their phone.
Lottery.com is developing blockchain technology to maintain an accurate ledger of each transaction, significantly curtailing the ability for fraudulent activity. With a track record of substantial revenue growth and user base expansion in a relatively short period of time, we believe that Lottery.com has the potential to cement its place as the leading online platform to play the lottery worldwide.”
An Incredible Journey of Transforming the Lottery Industry
Lottery.com went live back in 2015 and over the few years it has been in operation, it has grown to be the most dominant provider of lotto tickets and lottery data in the USA and across the globe. The platform is currently serving nine other states in the USA on top of its home state of Texas.
Given that the company is an authorized provider of lottery games such as Mega Millions, Powerball, and other state-run lotto games across the states where it has a footprint, it’s the leading online and mobile platform for playing the lottery in the respective states. Additionally, the company plans to dominate the US lottery industry further by expanding into over 20 more states come 2021.
One of the biggest drivers of growth for Lottery.com over its 5-year stint is the fact that the company is the largest provider of lottery data worldwide. The lottery powerhouse provides lottery data to more than 400 publishers of digital content including online newspapers, Tv and news websites, and even digital publishing giants such as Verizon (Yahoo), Alexa devices from Amazon, and even Google.
Lottery.com’s online lottery hub is chock full of real-time lottery-related content which includes draw dates, jackpots, jackpot analysis, and winning numbers (both current and previous), cutting across over 500 lottery games that are held in 38 different countries with the list of covered countries planned to grow in the coming years. On top of that, Lottery.com is the only authorized seller of Powerball lottery tickets in 148 countries as of now.
Another huge driver of Lottery.com’s growth is its innovation in the development of blockchain technology to boost the fairness of the games and fostering better regulation of the industry. The company has also managed to successfully capture millennial players, a market share that was initially untapped in the world of lottery games.
In the last 4 years, Lottery.com has experienced a tremendous compounded annual revenue growth rate of 297%. Through the public listing transaction, the company is poised to further accelerate its impressive growth curve to attain much greater heights of industry success in the future.
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